In addition, S&P, which is also based in New York, announced that it has affirmed its AAA issuer credit rating (ICR) for Sarasota County, and the county’s limited ad valorem tax bonds rating was raised from A- to AA+. The bonds provide funds for the county’s Environmentally Sensitive Lands Protection and Parklands Program, the release explains.

“The outlook reflects our view of the county’s strong economy that continues to recover from the latest recession, along with its very strong budgetary flexibility, liquidity, and debt profile,” S&P stated, the release notes. “The outlook further reflects our view of the county’s very strong management practices and policies,” the S&P statement added.

“According to County Administrator Tom Harmer, the bond rating represents the cautious and responsible management of public funds by county officials, and also reflects the county’s strong economy and capacity to meet future needs,” the release points out.

“Our board’s strategic approach to fiscal policy and recognition by the rating agencies of our strong management practices allow us to access debt at a very competitive rate, which minimizes the impact to our tax and rate payers,” Harmer said in the release. “Our outlook moving forward is also stable, which is another indicator of the county being in a strong financial position.”

“Both ratings services also believe that Sarasota County’s key financial policies and practices, along with a modest debt structure and growing economic base, will continue to have a positive impact on the bond ratings going forward,” the release notes.